Obama Has Nothing to Say About #Libya Because He Is Busy "Community Organzing" for Wisconsin for Public Unions

ALF-CIO's boss Richard Trumka says he's "at the White House a couple of times a week...two or three times a week", and that he has "conversations everyday with someone in the White House or in the administration. Everyday." The remarks were supposedly taped on February 18, 2011.

Sure, he doesn't say he's talking with Obama himself. So? He's probably talking with his handler, Valerie "Slum lord" Jarrett.

O'Bummer is too busy organizing public union workers to demonstrate against taxpayers. Roughly the equivalent of Libya's Gaddafis organizing thugs against citizens who oppose their policies...

(Is it Constitutional for a sitting president to do the "community organizing" in a particular state, favoring one side against the other? Nah.. who cares about Constitution?)

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Obama: "...Speak With One Voice..." on #Libya

(Oh brother...)

As I fully expected, Obama simply follows the template of "speak with one voice" (Hillary, Ban Ki Moon - see my previous post), and wastes everyone's time and his own breath in uttering these empty words:

From the White House Blog:

THE PRESIDENT: Good afternoon, everybody. Secretary Clinton and I just concluded a meeting that focused on the ongoing situation in Libya. Over the last few days, my national security team has been working around the clock to monitor the situation there and to coordinate with our international partners about a way forward.

First, we are doing everything we can to protect American citizens. That is my highest priority. In Libya, we've urged our people to leave the country and the State Department is assisting those in need of support. Meanwhile, I think all Americans should give thanks to the heroic work that's being done by our foreign service officers and the men and women serving in our embassies and consulates around the world. They represent the very best of our country and its values.

Now, throughout this period of unrest and upheaval across the region the United States has maintained a set of core principles which guide our approach. These principles apply to the situation in Libya. As I said last week, we strongly condemn the use of violence in Libya.

The American people extend our deepest condolences to the families and loved ones of all who’ve been killed and injured. The suffering and bloodshed is outrageous and it is unacceptable. So are threats and orders to shoot peaceful protesters and further punish the people of Libya. These actions violate international norms and every standard of common decency. This violence must stop.

The United States also strongly supports the universal rights of the Libyan people. That includes the rights of peaceful assembly, free speech, and the ability of the Libyan people to determine their own destiny. These are human rights. They are not negotiable. They must be respected in every country. And they cannot be denied through violence or suppression.

In a volatile situation like this one, it is imperative that the nations and peoples of the world speak with one voice, and that has been our focus. Yesterday a unanimous U.N. Security Council sent a clear message that it condemns the violence in Libya, supports accountability for the perpetrators, and stands with the Libyan people.

This same message, by the way, has been delivered by the European Union, the Arab League, the African Union, the Organization of the Islamic Conference, and many individual nations. North and south, east and west, voices are being raised together to oppose suppression and support the rights of the Libyan people.

I’ve also asked my administration to prepare the full range of options that we have to respond to this crisis. This includes those actions we may take and those we will coordinate with our allies and partners, or those that we’ll carry out through multilateral institutions.

Like all governments, the Libyan government has a responsibility to refrain from violence, to allow humanitarian assistance to reach those in need, and to respect the rights of its people. It must be held accountable for its failure to meet those responsibilities, and face the cost of continued violations of human rights.

This is not simply a concern of the United States. The entire world is watching, and we will coordinate our assistance and accountability measures with the international community. To that end, Secretary Clinton and I have asked Bill Burns, our Under Secretary of State for Political Affairs, to make several stops in Europe and the region to intensify our consultations with allies and partners about the situation in Libya.

I’ve also asked Secretary Clinton to travel to Geneva on Monday, where a number of foreign ministers will convene for a session of the Human Rights Council. There she’ll hold consultations with her counterparts on events throughout the region and continue to ensure that we join with the international community to speak with one voice to the government and the people of Libya.

And even as we are focused on the urgent situation in Libya, let me just say that our efforts continue to address the events taking place elsewhere, including how the international community can most effectively support the peaceful transition to democracy in both Tunisia and in Egypt.

So let me be clear. The change that is taking place across the region is being driven by the people of the region. This change doesn’t represent the work of the United States or any foreign power. It represents the aspirations of people who are seeking a better life.

As one Libyan said, “We just want to be able to live like human beings.” We just want to be able to live like human beings. It is the most basic of aspirations that is driving this change. And throughout this time of transition, the United States will continue to stand up for freedom, stand up for justice, and stand up for the dignity of all people.

Thank you very much.

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Some Incredible Snippets from So-Called World Leaders on #Libya

From Al Jazeera Libya Live Blog for 2/23/2011:

"UN head, Ban Ki-Moon, makes a statement on Libya, saying the international community needs to speak with one voice"

[Hmmm, the community, sans so-called "leaders", has been speaking pretty much with "one voice" (=down with Gaddafi) for quite some time now...]

"[The same UN leader] welcomed moves by the UN Human Rights Council to set up a "possible international inquiry into events in Libya.""

[Possible? Inquiry? No kidding..]

Antonio Patriota, Brazil's foreign minister, expressed great concern about the situation in Libya, but added that it was "a positive thing" that there has not yet been any violence directed at foreigners in the country.

[Positive? No kiddin'...]

""We have joined with the international community to speak with one voice," Hillary Clinton said"

[Wait, UN Sec General said we're yet to speak with one voice. You got the wording right, Hillary, but wrong tense; you should have said "we may be joining ..... anywhere from a few days to a few months from now....or maybe a few years from now..."]

"PJ Crowley, the US state department spokesperson, says the country is looking at using "a full range of tools," including possible sanctions"

[Sanctions? No kiddin', PJ...]

"Libya's deputy foreign minister, Khaled Khaim, told EU ambassadors in Tripoli that Al-Qaeda had set up an Islamic emirate in Derna, led by a former US prisoner at Guantanamo Bay named Abdelkarim al-Hasadi."

[Al-Quaeda did it! Now they're talking like a true ally of the US.]

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As the World Burns, Obama Is Worried About Gay Marriage

(Do I need to comment further?)

From AP:

WASHINGTON – The White House says President Barack Obama is "grappling" with his personal views on gay marriage even as he's ordered the Justice Department to stop defending the constitutionality of a law that bans it.

The Justice Department announced Wednesday that, at Obama's direction, it would not defend the Defense of Marriage Act in a court case where it's being challenged.

Spokesman Jay Carney said Obama has always opposed the Defense of Marriage Act as "unnecessary and unfair." But Carney said there's no change to how Obama views gay marriage itself.

Obama said in January that he is still wrestling with whether gay couples should have the right to marry. He said his feelings on the issue continue to evolve but he still believes in allowing strong civil unions.

And this new, "deer in the headlight" mouthpiece says Obama is not commenting on Libya due to a "scheduling issue".

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Al Arabiya: #Libya's Death Toll Over 10,000

And even the Italian government, who's been cozy with Gaddafi in the past and whose CDS on sovereign debt is skyrocketing, is finally speaking against him.

(O 'Bama, where are you? Haven't you figured out how to spin Libya into your re-election campaign yet? Like - "I've been on top of this for two years"?)

From ANSAmed quoting Al Arabiya:

(ANSAmed)- ROME - There are at least 10,000 dead and 50,000 wounded in Libya, according to reports by Al Arabiya on Twitter quoting a member of the International Criminal Court. The death toll was reportd by the Libyan member of the ICC, Sayed al Shanuka, who was interviewed from Paris. The official figures provided by the Libyan government yesterday indicated 300 dead, while this morning Italian foreign minister Franco Frattini stated that he believed more in the death of ''more than 1,000 innocents".

After last night's speech on television by Libyan leader Muammar Gaddafi, who stated that "I will resist until my death", tension emerged today in Libya while foreigners flee and power supplies to Europe are being shut down. The government still controls Tripoli, but has now lost Cyrenaica. This morning Italian foreign minister Franco Frattini mentioned ''civil war'' between ''death units and squads'' and accused Gaddafi of ''horrible bloodshed'', asking him to stop. Even the Italian government, which the opposition accused of not having spoken about Gaddafi's repression, is now attacking the Libyan leader.

Frattini added that, in its relations with Libya, in the past Italy ''did what it needed to do'', but ''there is a limit and in light of what is happening we cannot but make our voice heard". MALTA SOURCES, AISHA GADDAFI ON REJECTED AIRCRAFT - Aisha Gheddafi, daughter of the Libyan leader, was among the 14 people on board a Libyan airplane that was prevented from landing in Malta today. The report was made by sources close to the Maltese government.(ANSAmed).

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Nomura Says Oil May Go to $220 if (Only) Libya and Algeria Cut Output

With half of Libya's daily output is now off-line, and with some commotion in Saudi Arabia (the world 2nd largest producer) not to mention already tense Algeria, Nomura could prove right..

From Zero Hedge [emphasis is original]:

Waiting for a Saudi revolution before buying those $200 oil calls? It may be time to reevaluate: according to Nomura a halt in just Libyan and Algerian oil production (far more likely than the crisis spilling over to Saudi) would send oil to over $220/bbl. Specifically "the closest comparison to the current MENA unrest is the 1990-91 Gulf War. If Libya and Algeria were to halt oil production together, prices could peak above US$220/bbl and OPEC spare capacity will be reduced to 2.1mmbbl/d, similar to levels seen during the Gulf war and when prices hit US$147/bbl in 2008." Wouldn't a doubling in price lead to a major demand plunge as well? Yes it would "This could also result in a temporary demand destruction of some 2.0mmbbl/d globally." Also, since the Fed's free money was not flooding global market last time, $220 is just a lowball estimate: "We could be underestimating this as speculative activities were largely not present in 1990-91."

More observations from Nomura's Michael Lo:

• In order to estimate the impact the current MENA crisis could have on oil supply and prices, we analysed past crises that rocked the region. There have been a few events that drove oil prices higher (from 30% to 130% per event), most of which were during the period in which OPEC controlled oil prices. However, we believe the closest comparison is the 1990-91 Gulf War as this is the only event outside of that period. During the seven months of Gulf War, prices jumped 130% as OPEC spare capacity was reduced to 1.8mmbbl/d while demand came off briefly by 1.7%. Similarly, today, if Libya and Algeria were to halt operations, OPEC spare capacity will also likely be drawn down to 2.1mmbbl/d, in our view, which could fuel higher oil prices.

• We have identified three distinct stages of the Gulf war which led to changes in oil prices and we believe we are only at the initial stage of the three stage process for the current MENA unrest. During the initial stage of the Gulf war, prices moved up by 21%. This is comparable to what we have seen recently when oil price went up by 13% since the beginning of the MENA unrest. As we see further evidence of real supply disruption, we will be moving into Stage 2 of the event – during this stage of the Gulf war, prices moved to its peak (up 130%) within a period of two months. On the assumption that prices will move up by the same amount, we could see US$220/bbl should both Libya and Algeria halt their oil production. We could be underestimating this as speculative activities were largely not present in 1990-91.

• Open interest in WTI futures contracts has risen 2.4% since the beginning of the MENA crisis in January this year. On the other hand, open interest in Brent future contracts has fallen 7.6% during the same period. This was primarily on back of the large WTI-Brent differential during the period, as WTI crude prices are being suppressed by Cushing storage and infrastructure issues while Brent crude price was lifted by supply outages in North Sea fields.

For more, go to the link. Zero Hedge has the full report of Nomura.

On a side note, there is NO BID on US dollars....

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"It's going to be very difficult, it's going to be lots of blood"

Australia's ABC Radio phone interview of a man in Tripoli.

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#Libya's Interior Minister Kidnapped in Benghazi (Updated with CNN Info)

After resigning from his post and urging the entire Libyan army to join the protesters and fight the regime, the interior minister Abdel Fattah Younes has reportedly been kidnapped in Benghazi, according to a tweet by Abdul Hamid Ahmad, editor in chief of Gulf Times.

A bit more on CNN:

Libyan state media reported that "gangs" in Benghazi had kidnapped him. Witnesses have reported that Benghazi has essentially been taken over by the opposition. Witnesses also told CNN they saw Younis on Sunday and Monday in Benghazi, where he was siding with the protesters.

Gangs in Benghazi - meaning the government thugs and/or black African mercenaries?

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#Bahrain King to Visit Saudi Arabia on Wednesday

possibly to confer with King Abdullah on how to deal with Shi'ia protesters.

The king's policy of importing foreign Sunnis and fast-track them for citizenship to counter the Shi'ia majority in Bahrain may be backfiring...

From Gulf Times (2/23/2011):

Bahrain’s embattled King Hamad bin Issa al-Khalifa heads to Saudi Arabia today, the Saudi state news agency said, on a visit that coincides with the return of King Abdullah to Riyadh. “His majesty King Hamad bin Issa al-Khalifa is expected in Saudi Arabia Wednesday for an official visit,” read a brief statement posted on the SPA news agency website. Protests by a Shia-led opposition have gripped Manama’s Pearl Square since February 14.

In separate news, the Algerian government adopted the measure that would lift a 19-year state of emergency in an effort to placate the anti-government demonstrators.

And what does Libya do? The madman at the top vows to fight till the end while the West wrings their collective hands. I hope the end comes fast for the sake of Libyans, in favor of Libyans.

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George Soros Plans "Bretton Woods II"

Look who's scheming what behind the scene, while all the turmoils from Libya to Indiana, from fighting for life and liberty to fighting to keep to themselves as much taxpayers' money as possible, occupy the news headlines.

George Soros is convening a monetary policy conference in Bretton Woods...

From Economic Policy Journal (2/22/2011):

A monetary conference sponsored by the Institute for New Economic Thinking - a nonprofit founded in 2009 with a $50 million pledge from oligarch George Soros - will be held April 8-11 at the Mount Washington Hotel in Bretton Woods.

Here's the attendance list, according to the article:

Paul Volcker, Former Chairman, Federal Reserve

Adair Turner, Chairman, Financial Services Authority

Richard Bronk, London School of Economics

Gordon Brown, Former Prime Minister, United Kingdom

Paul Davidson, Co-Founder, Journal of Post Keynesian Economics

Martin Wolf, Chief Economics Commentator, Financial Times

Niall Ferguson, Professor of History, Harvard University

Andy Haldane, Executive Director, Financial Stability, Bank of England

Simon Johnson, Professor of Entrepreneurship, Global Economics and Management, Sloan School of Management, Massachusetts Institute of Technology

Henry Kaufman, President, Henry Kaufman & Co., Inc.

Zhu Min, Special Advisor, International Monetary Fund

Carmen Reinhart, Dennis Weatherstone Senior Fellow, Peterson Institute for International Economics

Kenneth Rogoff, Professor of Economics, Harvard University

Jeff Sachs, Director of the Earth Institute

Joseph Stiglitz, University Professor, Columbia Uni[versity]

A parade of globalists and Trilateralists, not to mention CFR members, Bilderbergers... Hey how come Stiglitz is invited but not Paul "Clueless" Krugman? And Gordon Brown? What kind of joke is this? Oh I vaguely remember - Gordon Brown was fishing for a job at the head of the IMF.

The article has excellent information from Lew Rockwell and Murray Rothbard on Bretton Woods I after the World War II, when John Maynard Keynes got almost all his wishes (and we are where we are in 2011).

I have a feeling that this is a "front". Hidden away somewhere is an equivalent of "Jekyll Island" - a extremely secret meeting of bankers to plot the creation of the Federal Reserve in the US - this time on a global scale.

(h/t heavypuree)

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Spineless Statement of the UN Security Council on #Libya

Total waste of everyone's time, waste of paper and ink (physical and digital).


"The members of the Security Council expressed grave concern at the situation in Libya. They condemned the violence and use of force against civilians, deplored the repression against peaceful demonstrators, and expressed deep regret at the deaths of hundreds of civilians. They called for an immediate end to the violence and for steps to address the legitimate demands of the population, including through national dialogue.

[National dialogue. Hahahahahahahahahahahaha]

"The members of the Security Council called on the Government of Libya to meet its responsibility to protect its population. They called upon the Libyan authorities to act with restraint, to respect human rights and international humanitarian law, and to allow immediate access for international human rights monitors and humanitarian agencies.

[Yeah that helps.]

"The members of the Security Council called for international humanitarian assistance to the people of Libya and expressed concern at the reports of shortages of medical supplies to treat the wounded. They strongly urged the Libyan authorities to ensure the safe passage of humanitarian and medical supplies and humanitarian workers into the country.

[Best humanitarian assistance is not the medical supplies. It is to STOP THE MADMAN and STOP THE KILLING!]

"The members of the Security Council underlined the need for the government of Libya to respect the freedom of peaceful assembly and of expression, including freedom of the press. They called for the immediate lifting of restrictions on all forms of the media.

"The members of the Security Council stressed the importance of accountability. They underscored the need to hold to account those responsible for attacks, including by forces under their control, on civilians.

[Who is going to hold whom accountable?]

"The members of the Security Council expressed deep concern about the safety of foreign nationals in Libya. They urged the Libyan authorities and all relevant parties to ensure the safety of all foreign nationals and facilitate the departure of those wishing to leave the country. The members of the Security Council will continue to follow the situation closely."

[Nothing. No No-Fly-Zone. No pressure whatsoever on the madman #Gaddafi.]

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To Be Expected, UN Security Council on #Libya Disappoints

Just "concern", call for an "end", ask for the safety of "foreigners" and more "concern".

And the Libyan delegation had to demand a meeting just to get this lame statement?

From AFP via Dow Jones Newswire via Zawya.com:

UNITED NATIONS (AFP)--The U.N. Security Council voiced "grave concern" Tuesday about the events unfolding in Libya and issued a statement calling for an "immediate end to the violence."

The council also urged Libyan authorities to ensure the safety of foreigners and make sure that humanitarian workers can get access to the wounded.

Those responsible for attacks on citizens in Libya should be "brought to account," added the statement issued at the end of a day of talks.

Libyan diplomats, who have broken with strongman leader Moammar Gadhafi, had demanded the meeting, and had called for a U.N. no-fly zone over the country as well as humanitarian action.

"There is even more concern after what was a very worrying speech by Moammar Gadhafi," a diplomat said before the meeting of the 15-nation council.

Kadhafi ordered his forces earlier to crush an uprising that has rocked his 41-year rule for the past week, warning armed protesters they will be executed and vowing to fight to the end.

In a defiant and rambling television speech, Kadhafi vowed to remain in Libya as leader, saying he would die as a martyr in the land of his ancestors and fight to the "last drop" of his blood.

(END) Dow Jones Newswires

22-02-11 2304GMT

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#Libya Updates from Al Jazeera Live Blog

[Emphasis is mine.]

12: 48am: Al Jazeera Arabic reports the Libyan warship that has been in Maltese waters for the past several hours arrived there after its crew refused to carry out orders to bomb Benghazi. A second Libyan ship has also reportedly been sighted in the area.

12:44am Libya's deputy UN ambassador says that Gaddafi's speech was code for his forces to start genocide against the Libyan people

12:40am Deputy Libyan ambassador emerges from UN discussions. This is significant, as the deputy has a radically different position to the pro-Gaddafi ambassador.

12:35am: A Libyan pilot - speaking from Switzerland - tells Al Jazeera he flew a plane load of mercenaries into Libya. He said he didn't realise what was happening at the time, but that the group were not speaking Arabic, but could hear them chanting verse. He urged his fellow pilots not to go to work and not to answer their phones. He said that, in the chaos of Tripoli, they would not be found. He said he was sure they and their families would be safe as the regime collapsed and lost power.

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HP Bombs After-Hours

Ouch. Down 12.5% in after-hour trading. So much for global 'economic recovery'.

HP beat the profit estimate, but revenues missed, and they guided lower. (For quick summary, see here.)

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#Libyans React to Gaddafi's Threatening Speech: Flying Shoes

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South Korea's Ongoing Bank Run

"Unrest" of a different kind is found in South Korea, where there is an on-going bank run.

The latest from Korea Times (2/22/2011):

One more savings bank shut down

The nation’s financial regulator said Tuesday that it has suspended one more savings bank reeling from massive construction financing loans defaults.

The Financial Services Commission (FSC) announced it had suspended Domin Savings Bank, based in Chuncheon, Gangwon Province, for six months. The lender closed its six branches there voluntarily earlier in the day for fear of a bank run.

Domin is one of five savings banks that have failed to meet the government’s recommendation of a 5-percent capital adequacy ratio. It saw a total of 18.8 billion won withdrawn, Monday.

Since new FSC Chairman Kim Seok-dong took the helm of the regulator last month, eight savings banks have been ordered to halt operations.

An FSC official said that Domin’s bank for international settlement (BIS) ratio had fallen below 1 percent, forcing the regulator to suspend its business.

Other than the suspension of Domin, the FSC chairman’s all-out efforts to stifle lingering jitters over possible shutdowns of distressed savings banks through mass withdrawals are working, as the chances of bank runs appear to have abated.

Kim visited Mokpo, South Jeolla Province, where the suspended Bohae Savings Bank is based, Tuesday, and continued to prevent an exodus among depositors of the secondary banks, who were alarmed by the financial regulator’s suspension of business of six similar lenders last week.

What is the world coming to?

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#Libya's Madman Orders Libyans to Kill Libyans For His Glory

We have a madman to deal with, and the world leaders are begging him to show "respect" and "restraint", and asking him please to punish officials responsible for the violence (that's the US's position). What a joke.

From Al Jazeera analysis on what he said in his speech:

"Muammar Gaddafi is the leader of the revolution, I am not a president to step down ... This is my country. Muammar is not a president to leave his post." [Which is very true, as he has no official position to resign from.]

"You men and women who love Gaddafi ...get out of your homes and fill the streets," he said. "Leave your homes and attack them in their lairs ... Starting tomorrow the cordons will be lifted, go out and fight them."

Gaddafi said "peaceful protests is one thing, but armed rebellion is another". [Ummm, it's your thugs who are armed.]

But the most chilling comment is this:

"cleanse Libya house by house"

A tweet by OmarAlmu5tar yesterday said:

"We have reached the point of no return. We know if we don´t die in the streets they´ll kill us in our houses"

He is afraid that Gaddafi is about to use chemical weapons on them, as Saddam Hussein did on the Kurds.

I am afraid there will be unspeakable atrocities, so unspeakable that no one outside Libya will talk about, and the so-called leaders of the so-called West and the UN will issue a statement regretting the atrocities but "hey it's time to move on...."

Now, have you heard of any country that has frozen the assets of the Gaddafis? None.

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No Bid on US Dollar

The stock markets are down around the world due to the "unrest" in #Libya, but there's hardly any bid on the world's reserve currency, a supposed safe haven - US dollar.

Instead, investors are bidding up gold, silver, and even the US Treasuries. But the US dollar index is only marginally up.

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Merrill Lynch to Clients: Buy The F.. Dip

"Failed Dip", of course.

From Zero Hedge:

From Bank of Countrywide Lynch's Fred Batoua:

"S&P futures getting hit hard as Middle East turbulence starts to impact crude price...March WTI contract expires today & seen huge short covering...we have seen buy the dip mentality in S&P futures, 6pts off lows of 1320...near-term though feel we are due a pause cautious & could retest 50 dma (1283)...last wk the FMS highlighted that cash balances back at 3.5%, triggering a "sell" signal that on average is followed by ~6.2% move lower over next 4 wks...but also worth noting that at 14x '11E EPS the S&P is still below 50 yr ave of 15x...also the doubling since March '09 is below the 62% move higher seen in the 2yr's following a bear market....so BUY the dip"

At least he didn't say "fucking"

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Misstatement of the Morning Award: United States

From Al Jazeera English tweet:

US spokesman calls on #Libya to respect rights of "thousands of US citizens" in the country.

uhh... US citizens' rights?

"Rights"? How about LIVES?

"US citizens"? How about ALL CITIZENS including LIBYANS?

"Respect"? Ya think Gaddafi "respects" anything (other than perhaps the blonde Ukrainian nurse)?

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